KeyCorp Cuts RLJ Lodging Trust (NYSE:RLJ) Price Target to $12.00

RLJ Lodging Trust (NYSE:RLJ) had its price objective trimmed by KeyCorp from $14.00 to $12.00 in a research note released on Monday morning, Marketbeat Ratings reports. The brokerage currently has an overweight rating on the real estate investment trust’s stock.

RLJ has been the topic of several other research reports. StockNews.com raised RLJ Lodging Trust from a “sell” rating to a “hold” rating in a report on Thursday, February 6th. Wells Fargo & Company dropped their target price on RLJ Lodging Trust from $10.50 to $9.75 and set an “underweight” rating on the stock in a research report on Tuesday, February 18th. Finally, Truist Financial lowered shares of RLJ Lodging Trust from a “buy” rating to a “hold” rating and lowered their price target for the stock from $11.00 to $10.00 in a research report on Friday, March 21st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, RLJ Lodging Trust presently has a consensus rating of “Hold” and a consensus price target of $10.82.

RLJ Lodging Trust Stock Down 0.4 %

RLJ stock opened at $8.33 on Monday. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of 28.72, a PEG ratio of 2.87 and a beta of 1.69. RLJ Lodging Trust has a 1-year low of $8.25 and a 1-year high of $11.99. The firm has a fifty day moving average price of $9.40 and a two-hundred day moving average price of $9.58. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.74 and a quick ratio of 2.74.

RLJ Lodging Trust (NYSE:RLJ) last announced its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.36. RLJ Lodging Trust had a net margin of 5.19% and a return on equity of 3.58%. The business had revenue of $329.99 million during the quarter, compared to the consensus estimate of $324.66 million. Research analysts predict that RLJ Lodging Trust will post 1.37 EPS for the current year.

RLJ Lodging Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 7.20%. The ex-dividend date is Monday, March 31st. RLJ Lodging Trust’s dividend payout ratio is currently 222.22%.

Hedge Funds Weigh In On RLJ Lodging Trust

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of RLJ Lodging Trust during the 4th quarter worth about $3,678,000. GF Fund Management CO. LTD. acquired a new position in shares of RLJ Lodging Trust during the fourth quarter valued at approximately $29,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in RLJ Lodging Trust by 5.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 890,487 shares of the real estate investment trust’s stock worth $9,092,000 after purchasing an additional 48,734 shares in the last quarter. Woodline Partners LP bought a new stake in RLJ Lodging Trust during the fourth quarter worth approximately $9,714,000. Finally, Two Sigma Advisers LP lifted its position in RLJ Lodging Trust by 9.8% in the fourth quarter. Two Sigma Advisers LP now owns 225,823 shares of the real estate investment trust’s stock worth $2,306,000 after purchasing an additional 20,100 shares during the period. Institutional investors own 92.35% of the company’s stock.

RLJ Lodging Trust Company Profile

RLJ Lodging Trust is a self-advised, publicly traded real estate investment trust that owns primarily premium-branded, high-margin, focused-service and compact full-service hotels. The Company's portfolio currently consists of 96 hotels with approximately 21,200 rooms, located in 23 states and the District of Columbia and an ownership interest in one unconsolidated hotel with 171 rooms.